[EIOUSE  OF    RBl'RBSENTATfVES,] 

HOUSE  OF  REPKFSENTATIVES,  December  20,  18G4.— Order- 
ed to  be  printed. 

[By  Mr.  Echols. 


A.    BILL 

To  be  entitled  An  Act  more  effectually  to  provide  for  the  reduction 
and  redemption  of  the  currency. 

1  Whereas,  The  securing  of  »he  currency  against  further  de- 

2  preciation.  and   the  restoration  of  tiie   public  confidence  in  its 
S     ultimate   redemption,  would  be  of  incalculable  benefit,  both  to 

4  the  government  and   people  :    Therefore,    The  Congress  of  the. 

5  Confederate  .States  enacts,  as  follows,  towit : 

1  ShCTiox  ].     That  pending  the   present  war,  one-fifth  of  the 

2  Treasury  nntes  received  into  the  Treasury  in  payment  of  taxes 

3  during  €a<h  year  shall  be  cancelled.     Provided,   however.   That 

4  the  amount  outstanding  shall  not  be  reduced  at  any  one  time  to 

5  lc?s  than  one  hundred  and  fifty  milliors. 

1  Sec.  2      The  Secretary  of  the  Treasury  is  hereby  authorized 

2  to  eell,  aniiually,  the   tithe  cotton,  and  aho   one-tenth  of  the 

3  amount  of  cotton  owned  and  held    by  the   government,  within 

4  the  limits  ol  the  Confederate  States,  and  appropriate  the  pro - 

6  ceedg  arising  therefrom  to  the  redemption  of  all  Treasury  notes 


i'  2 

6  now  outstandiDg,  or  hereafter  to  be  issued  except  those  issued 

7  prior  io  tl  e  iTth  day  of  February,  1864. 

1  Sec  3.     And  for  the  further  security  and  redeinntioa  of  the 

2  currency,  the  duties  laid  and  collected  by  existing   laws  on  all 

3  imports  whatosever,  chall  be  sacredly  held  and  pledged  for  the 

4  redemption  of  ail  Treasury  notes  now  outstanding  and  hereafter 

5  to  be  issued,  except  as  hereinbefore  excepted,  until  the   whole 

6  shall  have  been  redeemed- 


